Wordless Wednesday; Old Mountain View CA Home Sans Foundation. Put this ~1,100 sq. ft. bungalow on a good foundation, gut and re-do the interior, and this little bungalow one block from vibrant Castro St. will be worth about $1,000,000. I think that's what is happening.
Lloyd Binen
Realtor/Broker/DRE 572654
Certified Realty Services
19200 Shubert Drive
Saratoga, CA 95070
Certified Residential Specialist (CRS); Graduate, Realtors Institute (GRI)
408-373-4411
Lloyd, nice picture of work in progress, I like seeing restoration projects like this. Much of the orginial architectural style is preserved for all to enjoy!
I'm a huge fan of the arts and crafts style bungalows. I sure hope they restore in that style...it will be fabulous! Have a good Wednesday Lloyd.
Lloyd~It's a good thing I don't appraise houses in your neck of the woods, because I was thinking.....well let's just say a lot lower. I just have a very hard time grasping the prices of homes in you area.
Have an AWESOME day!
It's all about location, Lloyd, so I'm sure you have the "updated" price point of that bungalow absolutely correct! :-)
Thanks Adrian, I agree.
Debb, Thanks. I like that style also. It's when homes had character, not characters in homes.
Sharon, yep...work in progress.
Hey Michael, thanks for coming by. Mountain View is hot especially with young software engineers from nearby Google Headquarters and scores of other small & medium-sized tech companies. Big salaries and a very hot location. I'm not used to our prices either. When I started in '76 the average price was $56,000. My first home in '75 was $32,000 FHA 203B in east San Jose, a chain-link neighborhood.
Peggy, thanks. I hope so too. I think it was recently purchased and the new owner is doing these repairs. I could check MLS, but didn't. This is one block from Castro St. Mountain View's popular downtown. Mountain View market has been strong for a couple years. Popular downtown and near so much tech employment.
Pat, thanks and maybe.
Karen, do you know Mountain View? It's next to Palo Alto (Stanford U & Steve Jobs city) and is very popular with young computer professionals and has a downtown with excellent and varied dining. Thanks.
Lloyd, Not sure if you are "pulling our leg" on this one...oh my, but we like your statement "When homes had character, not characters in homes" ~ Good one!
Lloyd~Do you think that all of the new millionaires that the Facebook public offering is going to create will affect the CA real estate market?
I hope you get some "after" shots when the renovation is complete. It will be interesting to see if you are right.
Larry and Sheila, I'm not pulling your leg about market value. Mountain View, especially close to downtown, is a favored location by young, well-paid, computer engineers. The guys/gals that make Google and FaceBook (and many more high tech things) work. Near downtown San Jose, about 15 miles south-ish, the same home sells for ~$325,000, so there's a big difference due to location, location, location.
Michael, I'm going to do a post about that very subject. Yes, I do. Nearly all of the guys/gals with stock options are young renters who will be looking for a first home. And they're headed to the most popular Silicon Valley locations and San Francisco. But some may take their millions back home, outside of Silicon Valley. I may be helping a young FB early-hire find a home and he's worried the sudden demand will send prices up especially in those popular areas. In fact, he's from MN, but plans to stay out here. They can't sell their stock publicly for 6 months after the IPO which is anticipated April/May. They won't need appraisals; lots are cash buyers.
Neena, I'll try.
Lloyd~You might find this article helpful for your post if you haven't read yet.
http://www.nytimes.com/2012/02/09/us/california-housing-market-braces-for-facebook-millionaires.html?ref=technology
Hi Lloyd - just in follow up to your question - I wouldn't say I have any real market knowledge of the Mountain View area, but have spent time in the Palo Alto (past work life) and love the surrounding communities. You would be my "go to" REALTOR for any friends or colleagues that are buying or selling in the Silicon Valley.
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